December 2017

A lack of available office space in prime CBDs across Europe is set to lead to a fall in take-up and further rent rises throughout 2018, adding to the 4.9% prime rental increase seen during 2017, according to new research from Savills.

The City of London is bucking Brexit and on track to reach record levels of office investment in 2017, as Savills anticipates total turnover will hit £12.5 billion – subject to a number of deals currently under offer exchanging or completing before 31st December. This sees total transactions in 2017 doubling the 10-year average (£6.259 billion), in line with the all-time record volume seen in 2014 (£12.6 billion).

In 2017, real estate advisory firm Savills relocated its Warsaw headquarters to a new office in Q22. It has now allowed everyone to see how its staff actually work on the 30th floor of one of Poland’s premier office buildings.

Spain has been leading the recovery of Southern Europe’s commercial real estate market since the GFC, thanks to continued interest from foreign investors who have been responsible for 62% of all commercial real estate investment activity so far this year. According to international real estate advisor Savills, investment volumes are now looking to hit €8.9bn this year, a yoy increase of 5%, and a post GFC record.